AllianceBernstein Announces Expansion of Insurance Platform
AllianceBernstein (AB) announced its expansion in the insurance business through a partnership with Reinsurance Group of America (RGA). AB has been selected as one of the lead investors in Ruby Reinsurance Company (Ruby Re), a reinsurance sidecar vehicle sponsored by RGA focusing on the U.S. asset-intensive market. As part of the transaction, AB will manage private alternative assets for RGA's general account and appoint a member to Ruby Re's Board of Directors. This partnership marks a significant milestone in AB's goal of leadership within insurance asset management and participation in the growing asset-intensive reinsurance market.
AllianceBernstein (AB) ha annunciato la sua espansione nel settore assicurativo attraverso una partnership con Reinsurance Group of America (RGA). AB è stata selezionata come uno dei principali investitori in Ruby Reinsurance Company (Ruby Re), un veicolo di riassicurazione sponsorizzato da RGA che si concentra sul mercato statunitense ad alta intensità di capitale. Nell'ambito della transazione, AB gestirà asset alternativi privati per il conto generale di RGA e nominerà un membro al Consiglio di Amministrazione di Ruby Re. Questa partnership segna una tappa importante nell'obiettivo di AB di diventare un leader nella gestione degli asset assicurativi e di partecipare al crescente mercato della riassicurazione ad alta intensità di capitale.
AllianceBernstein (AB) anunció su expansión en el negocio de seguros a través de una asociación con Reinsurance Group of America (RGA). AB ha sido seleccionada como uno de los principales inversores en Ruby Reinsurance Company (Ruby Re), un vehículo de reaseguro patrocinado por RGA que se centra en el mercado estadounidense de alta intensidad de activos. Como parte de la transacción, AB gestionará activos alternativos privados para la cuenta general de RGA y nombrará a un miembro de la Junta Directiva de Ruby Re. Esta asociación marca un hito significativo en el objetivo de AB de ser líder en gestión de activos de seguros y participar en el creciente mercado de reaseguro de alta intensidad de activos.
AllianceBernstein (AB)는 Reinsurance Group of America (RGA)와의 파트너십을 통해 보험 사업 확장을 발표했습니다. AB는 자산 집약적인 미국 시장에 초점을 맞춘 RGA가 후원하는 재보험 측면에서의 투자 차량인 Ruby Reinsurance Company (Ruby Re)의 주요 투자자 중 하나로 선정되었습니다. 이번 거래의 일환으로 AB는 RGA의 일반 계좌를 위해 사모 대체 자산을 관리하고 Ruby Re의 이사회에 한 명의 이사를 임명할 것입니다. 이 파트너십은 보험 자산 관리에서의 리더십과 증가하는 자산 집약적 재보험 시장에의 참여라는 AB의 목표에 있어 중요한 이정표를 의미합니다.
AllianceBernstein (AB) a annoncé son expansion dans le secteur de l'assurance grâce à un partenariat avec Reinsurance Group of America (RGA). AB a été sélectionnée comme l'un des principaux investisseurs de Ruby Reinsurance Company (Ruby Re), un véhicule de réassurance soutenu par RGA, axé sur le marché américain à forte intensité d'actifs. Dans le cadre de la transaction, AB gérera des actifs alternatifs privés pour le compte général de RGA et nommera un membre au conseil d'administration de Ruby Re. Ce partenariat marque une étape significative dans l'objectif d'AB de devenir un leader dans la gestion des actifs d'assurance et de participer au marché de la réassurance à forte intensité d'actifs en pleine croissance.
AllianceBernstein (AB) gab die Erweiterung ihres Versicherungsbereichs bekannt, indem sie eine Partnerschaft mit Reinsurance Group of America (RGA) einging. AB wurde als einer der Hauptinvestoren in die Ruby Reinsurance Company (Ruby Re) ausgewählt, ein von RGA unterstütztes Rückversicherungsfahrzeug, das sich auf den kapitalintensiven US-Markt konzentriert. Im Rahmen der Transaktion wird AB private alternative Anlagen für das allgemeine Konto von RGA verwalten und ein Mitglied in den Vorstand von Ruby Re ernennen. Diese Partnerschaft stellt einen wichtigen Meilenstein in ABs Ziel dar, eine Führungsposition im Bereich der Versicherungsanlageverwaltung zu übernehmen und am wachsenden kapitalintensiven Rückversicherungsmarkt teilzunehmen.
- Strategic expansion into insurance asset management through Ruby Re investment
- New revenue stream through management of RGA's private alternative assets
- Board representation in Ruby Re, providing strategic influence
- Partnership with established player RGA enhances market position
- None.
Insights
This strategic partnership marks a significant expansion into the lucrative insurance asset management sector for AllianceBernstein. The investment in Ruby Re positions AB to capture a larger share of the growing asset-intensive reinsurance market, which typically generates stable, long-term fee income. The deal structure offers multiple revenue streams: management fees from RGA's general account assets and potential returns from the Ruby Re investment itself.
The appointment of a board member to Ruby Re provides AB with strategic oversight and deeper integration into RGA's operations. This move aligns with AB's broader strategy to diversify revenue streams beyond traditional asset management, particularly in the insurance sector which offers higher margins and longer-term client relationships compared to retail investment management.
While specific financial terms weren't disclosed, this type of strategic partnership typically involves substantial capital commitment and has the potential to meaningfully impact AB's assets under management and fee-based revenues in the medium to long term.
AB has been named as one of the lead investors in Ruby Reinsurance Company ("Ruby Re"), a reinsurance sidecar vehicle sponsored by RGA and focused on the
AB's investment in Ruby Re represents a significant milestone in the firm's continued goal of leadership within insurance asset management. As part of this financial commitment, AB will also be appointing a member to the Ruby Re Board of Directors.
"Our investment in Ruby Re affirms AB's continued expansion of our insurance platform and growth of our insurance investment management business," said AB's Head of Global Client Group and Head of Bernstein Private Wealth Onur Erzan. "Through our partnership with RGA, AB will participate in the growing asset-intensive reinsurance market."
"We appreciate AB's support and investment in Ruby Re, which is an important component of RGA's growth strategy," said Leslie Barbi, Executive Vice President, Chief Investment Officer, RGA. "This latest investment bolsters our asset-intensive capabilities and reflects AB's confidence in the quality of RGA's platform and belief in our ability to develop innovative solutions for our clients."
"This collaboration and partnership with RGA accelerates our momentum in the insurance space, as earlier this year, we announced Geoff Cornell as our first-ever Chief Investment Officer of Insurance," said AB's Head of Strategy Neil Jain. "We look forward to future opportunities to expand our overall insurance business, capabilities, and platform."
About AllianceBernstein
AllianceBernstein is a leading global investment management firm that offers diversified investment services to institutional investors, individuals, and private wealth clients in major world markets. As of October 31, 2024, AllianceBernstein had
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SOURCE AllianceBernstein
FAQ
What is AllianceBernstein's (AB) new partnership with RGA in 2024?
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